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Housing costs add to modest CPI rise in NY metro region

Higher housing costs have led to a modest

Higher housing costs have led to a modest increase in consumer prices in July across the New York Metropolitan area. Credit: iStock

Consumer prices in the metropolitan region increased modestly last month compared with a year ago on higher housing costs.

The federal Bureau of Labor Statistics reported on Tuesday its consumer price index for the 31-county region that includes Long Island rose 1.6 percent in July compared with the same month a year earlier.

Martin Kohli, the bureau's chief regional economist, said most of the gain was due to a 3-percent increase in the cost of shelter, year over year.

Gasoline prices were nearly flat, climbing 0.3 percent last month compared with July 2013.

The cost of electricity was unchanged, year over year, while natural gas prices were off 4.3 percent.

Prices for groceries and health care were each up about 3 percent compared with a year earlier.

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